Buyer's market in Asia for property insurance

[SINGAPORE] Growing competition and insurers' higher capacity for underwriting property and casualty insurance mean that Asian rates continue to ease, despite the region being prone to natural disasters.

This is creating a challenge for insurers in a world where interest income continues to be low, insurers said.

"The premium pool in Asia is not growing as fast as insurers' investment in Asia," Zurich Insurance Company's Singapore CEO, Jonathan Rake, told The Business Times recently.